The Biden Recession · Page 6

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DrafterX
Herf-A-Holic

3 years ago

#101

Aw, "repression"... "recession"... It's all da same thing, man. .. 😟

Brewha
Herf-A-Holic

3 years ago

#102

Axl wrote that…

Speyside2
Herf-A-Holic

3 years ago

#103

I base this on the number of tech jobs being lost. Plus the stock market is in bad shape though that is not a clear indicator of economic health. Finally, there is a vast number of people who no longer qualify for unemployment so they are considered employed.

DrMaddVibe
Herf-A-Holic

3 years ago

#104

It's not just the Tech sector that's facing job cuts though.

Brewha
Herf-A-Holic

3 years ago

#105

Speyside2 wrote:

Granted the economy has it's ups and downs - and numbers can be given to argue both sides.

I'm looking for a direct link between these market correction type layoffs and the action of the administration.
Besides the obvious "Let's Go Brandon" - which in fairness is all some need to know.

RayR
Herf-A-Holic

3 years ago

#106

Brewha wrote:

You must be blind to the effects of Brandon's policies over the last few years. Keep looking, you just might have an epiphany.

Stogie1020
Herf-A-Holic

3 years ago

#107

Brewha wrote:

Here you go, please tell me why we should ignore this:

https://data.bls.gov/timeseries/CUUR0000SA0L1E?output_view=pct_12mths

Just the first chart will do. See that MASSIVE jump in inflation starting right after Jan, '21? Hmmm, what happened in Jan, '21? Anyone? Anyone? Bueller?

Edited by user 3 years ago | Reason: Not specified

Brewha
Herf-A-Holic

3 years ago

#108

Stogie1020 wrote:

Uhmmm - COVID?

What actions do you attribute to the administration? Or is this just guilt by association?

Edited by user 3 years ago | Reason: Not specified

Stogie1020
Herf-A-Holic

3 years ago

#109

You are the guy sitting at a table in the kitchen of a house totally engulfed in flames smiling and loudly stating "EVERYTHING IS ALRIGHT!"...

It's pretty pathetic.

Brewha
Herf-A-Holic

3 years ago

#110

You are the guy sitting at a table in the kitchen of a house totally engulfed in flames smiling and loudly stating "EVERYTHING IS ALRIGHT!"...

It's pretty pathetic.

Stogie1020 wrote:

Yeah - poor Brewha - he thinks there are reasons for inflation (global inflation too) beyond “Joe did it”.

So you got nothin on this, right?

No action by the administration, no pandemic, no social, economic, geothermal, or parametric cause besides - “Let’s Go Brandon”.

Pretty weak, my friend.

Not a mater of Pathos - See: Logos.

Edited by user 3 years ago | Reason: Not specified

Brewha
Herf-A-Holic

3 years ago

#111

“Biden Did it”

The Detroit News:

Ford details $3.5 billion electric vehicle battery plant to be built in Marshall

Ford Motor Co. signaled Monday that Michigan will play a central role in the Dearborn automaker's bid to secure its electric-vehicle supply chain and diversify its battery technologies.

The Blue Oval confirmed plans to invest $3.5 billion to build the first automaker-backed lithium iron phosphate battery plant in the United States. Ford is doing so with Contemporary Amperex Technology Co. Ltd., or CATL, under a licensing agreement with the China-based company, the world's leading battery manufacturer.

The venture, slated to come online in 2026, will initially create 2,500 jobs. The plant, as The Detroit News previously reported, will be built on the Marshall Megasite in Calhoun County and will be called BlueOval Battery Park Michigan. It would be part of a wholly-owned Ford subsidiary and could be expanded in the future.

Edited by user 3 years ago | Reason: Not specified

DrMaddVibe
Herf-A-Holic

3 years ago

#112

Brewha wrote:

He sure did!

Ford Plans to Lay Off 8,000 Workers to Help Finance Electric-Vehicle Initiative

Ford Motor Company plans to lay off as many as 8,ooo employees in the coming weeks to help finance its electric-vehicle initiative.

The cuts will affect the newly established Ford Blue unit that produces engines for gas-powered vehicles, as well as other salaried, operational positions throughout the company, people familiar with the development told Bloomberg.

Under the auspices of Chief Executive Officer Jim Farley, in March Ford diversified its automotive manufacturing into two distinct business projects: the “Model e” unit for EV development and “Ford Blue” for internal-combustion engines.

Some staff are likely to be let go this summer, and the layoffs may happen in stages, the people said. They are expected to target the U.S. sector of Ford, where 31,000 salaried workers are employed, Bloomberg noted. Declining to comment on the potential job cuts, Ford emphasized that it is committed to revolutionizing EVs, where many automakers believe the future of the car market is headed.

“As part of this, we have laid out clear targets to lower our cost structure to ensure we are lean and fully competitive with the best in the industry,” Chief Communications Officer Mark Truby said in a statement.

Reducing staff numbers is crucial to increase profits, especially in the Ford Blue division, which is not running as efficiently as it could be, Farley has said. The extra cash flow can support the subsidization of scaling up EVs. Some Ford profits have been lost to some of its EV models due to soaring commodity and warranty costs, Bloomberg added.

“The funding for that $50 billion, it’s all based on our core automotive operations,” Farley said in a March interview with Bloomberg Television. “That’s why we created a separate group called Ford Blue, because we need them to be more profitable to fund this.”

EVs have been viewed as a major step in the decarbonization of the economy. However, the energy transition to EVs, while environmentally friendly, has inevitably resulted in lost jobs, especially those of auto-service technicians and other blue-collar roles. It is still unclear whether EVs will be a significant source of net new green jobs, our Andrew Stuttaford has noted.

Ford’s plans come after President Biden, frustrated with the demise of his sweeping legislative agenda aimed at cutting greenhouse-gas emissions and preparing vulnerable communities for natural disasters, claimed the U.S. is in a climate “emergency” Wednesday. He vowed to use bold strokes to bypass Congress.

“Since Congress is not acting as it should, and these guys here are, but we’re not getting any Republican votes, this is an emergency,” Biden said. “As president I’ll use my executive powers to combat climate crisis in the absence of congressional action.”

https://news.yahoo.com/ford-plans-lay-off-8-230054227.html

Remember when Mumbles uttered he didn't work for that guy in the auto plant? He meant that.

Edited by user 3 years ago | Reason: Not specified

DrMaddVibe
Herf-A-Holic

3 years ago

#113

Meta To Cut More Jobs As Soon As This Week

Meta Platforms Inc., the owner of Facebook and Instagram, is preparing to carry out another round of layoffs this week as part of its efforts to enhance organizational efficiency, according to Bloomberg.

The upcoming job cut is part of cost-cutting measures known as "flattening," as per anonymous sources familiar with the matter. These insiders revealed that Meta had asked directors and vice presidents to compile lists of employees who could be terminated. This comes as the world's largest social networking company has experienced a decrease in advertising earnings and dialed back investments in the metaverse.

The job cut, which could start as early as this week, will add to the November layoffs of approximately 13% of its workforce (equivalent to around 11,000 employees). Sources said the job cut would be ready before CEO Mark Zuckerberg goes on parental leave for his third child.

Zuckerberg has previously indicated 2023 will be a "year of efficiency." He told analysts in February he is focused on "cutting projects that aren't performing or may no longer be crucial" and plans on "removing layers of middle management to make decisions faster."

According to the Financial Times, Meta team leaders and project managers allegedly have trouble planning their workloads due to the lack of transparency regarding the imminent headcount reduction.

As the prospect of new job cuts looms, workers at Meta have reportedly informed the Financial Times that no work is being completed.

"The year of efficiency is kicking off with a bunch of people getting paid to do nothing," another employee said, adding that day-to-day work "is a mess."

Headcount reduction at tech companies continues full steam ahead in 2023. Website job tracker Layoffs.fyi show 461 tech companies have slashed 125,677 jobs so far this year.

Here are the some of the largest tech job cuts over the last several years.

There's no slowdown in tech layoffs.

https://www.zerohedge.com/markets/meta-cut-more-jobs-soon-week

ZRX1200
Herf-A-Holic

3 years ago

#114

I think each American only has to cut a check for $274k ea right now.

#winning

rfenst
Herf-A-Holic

3 years ago

#115

U.S. Bureau of Labor Statistics

https://www.bls.gov/news.release/empsit.nr0.htm

February's numbers may not be in yet...

Brewha
Herf-A-Holic

3 years ago

#116

And now a word from the far right reality denial team...

ZRX1200
Herf-A-Holic

3 years ago

#117

Congress bears as much responsibility in this as every sitting president that signs the budget.

We have a horrific track record the last twenty years with debt. And we’ve had control by both parties in both legislative and executive branches. One party talks about it and does nothing meaningful while enriching contributors coffers. The other major party talks of “investments” and enriches contributors coffers and insulates public employees security.

Tell me where I’m wrong pretty please

RayR
Herf-A-Holic

3 years ago

#118

ZRX1200 wrote:

He's still mad that we reject his President, the Idjut in Chief, and his lying regime. He thinks we should be impressed by their malarkey statistics.

Brewha
Herf-A-Holic

3 years ago

#119

ZRX1200 wrote:

Ok, you’re wrong.

The economy is complex with too many interacting factors to hang it on “the govmut” much less a president.

The collective govmut “should” be good stewards of the economy. And there I Will agree with you that they are not.

Ok, so maybe your right…kinda…

rfenst
Herf-A-Holic

3 years ago

#120

US job openings take a dip in Jan.

WASHINGTON — U.S. employers posted 10.8 million job openings in January, indicating the American job market continues to run too hot for the inflation fighters at the Federal Reserve.

Job openings fell from 11.2 million in December but remained high by historical standards, the Labor Department reported Wednesday. Employers also hired more workers in January. But layoffs rose.

For 20 consecutive months, employers have posted at least 10 million openings — a level never reached before 2021 in Labor Department data going back to 2000. The number of openings in January exceeded what economists had forecast and translates to about two vacancies for every unemployed American.

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